Guys,
Thanks for the comments. I generally prefer not to have the floats touching the water while under way. While this design allows you to drop the eyebolts low enough to get the floats touching the water at all times, but I am fairly comfortable with a small initial rocking before the float contacts the water. On improvement I would like to devise is how to drop the eyebolts more easily while in the water (I can do it, but it is really annoying), but, so far, fishing has not been a problem with the minor instability caused by leaving the floats out of the water a bit. The upside of keeping them out is that they do not slow you down while paddling. With the oars, I do not notice a big difference between the floats in and out of the water.
~P